In accordance with the report by World Economic Forum (WEF) and Ellen MacArthur Foundation, the oceans will contain more plastics than fish by 2050.
- The report was prepared as part of Project MainStream, which has been supported by McKinsey & Company.
Highlights of Report
- At Present, there are over 150 million tonnes of plastics in the ocean.
- As per report, every year, minimum 8 mn tonnes of plastic dumbed into an ocean which is equal to scrapping of one garbage truck into the ocean every minute.
- In 2013, more than $260 billion of plastic packaging was released into the market that’s more than 85 million tons.
- After first use, 95% of plastic packaging loses its material value which lead to an annual economic loss of $80 billion to $120 billion.
- Only 14% of plastic packaging is collected for reuse.
Measures of Improvement
If no step of improvement is taken, the plastic is expected to increase by two per minute by 2030 and four per minute by 2050. In order to curb this scenario, WEF has suggested the following measures:
- Reducing leakage of plastics into natural systems
- Finding alternatives to crude oil and natural gas as the raw material of plastic production.
Formation – 1971
Member companies – 1000
Executive Chairman – Klaus Schwab
Headquarters – Geneva, Switzerland
Motto – Committed to improving the state of the world